Local developers Daryl Berger and Joe Jaeger teamed up this past May announcing plans to develop the 47 acre parcel situated at the upriver end of the Morial Convention Center. The team is currently in negotiations to lease the parcel from the Convention Center. More recently, it was reported that Jaeger has begun the process of foreclosing on an adjoining 20 acre parcel which was home to the Market Street power plant and was once proposed for redevelopment anchored by a Bass Pro retail outlet. As assembled, the total parcel would have 67 acres located in one of the oldest developed neighborhoods of the country – right between the Warehouse and Garden Districts of New Orleans, along the Mississippi River. Preliminary plans include the following:
- 1,200 room convention hotel
- 250,000 square feet of retail space
- 50,000 square feet of office
- 75,000 square foot theater
- 290,000 square foot educational component
- 1,500,000 square feet of residential space with over 1,000 units comprised of a mix of apartments, luxury condominiums and townhomes.
Such a development would have a profound impact on the immediate and surrounding areas and would certainly serve as a catalyst for continued growth and redevelopment in the regional market area.